Aruba Networks, Inc. (ARUN) Releases Q1 Earnings Guidance
Aruba Networks, Inc. (NASDAQ:ARUN) updated its first quarter earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $0.24-0.25 for the period, compared to the Thomson Reuters consensus estimate of $0.23, AnalystRatingsNetwork reports. The company issued revenue guidance of $202-205 million, compared to the consensus revenue estimate of $199.30 million.
A number of research firms have recently commented on ARUN. Analysts at Stifel Nicolaus upgraded shares of Aruba Networks from a hold rating to a buy rating in a research note on Thursday, August 14th. They now have a $24.00 price target on the stock. On a related note, analysts at Buckingham Research initiated coverage on shares of Aruba Networks in a research note on Wednesday, July 16th. They set a neutral rating and a $19.00 price target on the stock. Finally, analysts at Macquarie upgraded shares of Aruba Networks from a neutral rating to an outperform rating in a research note on Monday, July 14th. They now have a $24.00 price target on the stock, up previously from $22.00. Two analysts have rated the stock with a sell rating, six have given a hold rating and thirteen have given a buy rating to the stock. Aruba Networks has a consensus rating of Buy and an average price target of $22.80.
Shares of Aruba Networks, Inc. (NASDAQ:ARUN) traded up 0.75% during mid-day trading on Tuesday, hitting $20.24. The stock had a trading volume of 3,090,882 shares. Aruba Networks, Inc. has a one year low of $15.97 and a one year high of $23.58. The stock’s 50-day moving average is $18.19 and its 200-day moving average is $19.01. The company’s market cap is $2.201 billion.
Aruba Networks (NASDAQ:ARUN) last issued its quarterly earnings data on Tuesday, August 26th. The company reported $0.24 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.23 by $0.01. The company had revenue of $202.90 million for the quarter, compared to the consensus estimate of $194.83 million. During the same quarter last year, the company posted $0.12 earnings per share. Aruba Networks’s revenue was up 32.5% compared to the same quarter last year. On average, analysts predict that Aruba Networks, Inc. will post $0.76 earnings per share for the current fiscal year.
In other Aruba Networks news, Insider Keerti Melkote unloaded 54,000 shares of the stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $20.06, for a total transaction of $1,083,240.00. The sale was disclosed in a document filed with the SEC, which is available at this link.
Aruba Networks, Inc, is a provider of next-generation network access solutions for mobile enterprise networks.
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